On August 19, 2014, the US Commodity Futures Trading Commission's ("CFTC") Division of Market Oversight announced the issuance of time-limited, conditional no-action relief for swap execution facilities ("SEFs") from compliance with certain data reporting and recordkeeping requirements for confirmations required for uncleared swap transactions executed on or pursuant to the rules of a SEF under CFTC regulation 37.6(b). As a condition to the no-action relief, SEFs must make copies of certain agreements available to CFTC staff on request, within a reasonable period of time.
The full text of the CFTC no-action letter is available at: http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/14- 108.pdf.
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